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Archive for July, 2016

disqus_771GkYkAJKSo, in other words we have privatised profits but socialised debts....

September 2016

James MurrayRJThen please do make your responses simple and clear. Consider also giving readers a chance and quote some kinks that explain and support your assertions.Jim Murray...

August 2016

RJThe UK GOVERNMENT has the power to spend without limit today. And in fact higher UK Govt deficits would be beneficial not bad (as it creates new net non Govt saving). The UK Govt does not borrow to spendDebt free money is not possible (unless it means bonds free money)97% of all money is not created...

August 2016
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PJMThe "very non-trivial admission" by "the Bank of England to publicly concede that banks create money and point out that mainstream textbooks are generally wrong on this fundamental point" is definitely NOT "the first time in history".The REPORT OF THE NEW ZEALAND ROYAL COMMISSION ON MONETARY, BANKIN...

September 2016

Marco SabaThis is the unaddressed point: Seigniorage: The Honest Government's Guide to the Revenue from the Creation of Money http://leconomistamascherat......

July 2016
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Bank of England: Digital Cash – the end of monetary policy as we know it?

bank of england digital currency

Last week the Bank of England released a key paper that analyses the 'macroeconomics of central bank issued digital currencies'. The paper essentially asks what would happen if people could hold money electronically at the central bank, instead of having to use bank deposits (created by commercial banks). We wrote about it briefly last week but we're still working through the fine details of the 69-page mathematical model to figure out the implications for our work. In the meantime, the Bank of England's staff blog has just released a much more accessible discussion of the issues:

WilliamAnd...hard cash in the hand cannot be tracked so readily...

September 2016

WilliamEntirley true...but...'hard cash' in your hand cannot confiscated when convenient...

September 2016

Vince RichardsonOK I ve no objection to that,far as I am aware that is what we all want.It has to be open and honest so everyone can see what is going on and where and how that money is created.Well in simple terms anyhow...

July 2016
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Our response to critics in the Cambridge Journal of Economics

Cambridge Journal Response

The Cambridge Journal of Economics (probably the leading journal of Post-Keynesian economics) has published an entire special issue on "Cranks and brave heretics: Rethinking money and banking after the Great Financial Crisis", inviting a range of academics to comment on proposals to stop banks creating money (amongst other ideas for monetary reform).

Graham BarnesThe PDF has been moved and the online access is no longer free....

last month

joebhedTom,You can investigate The Muscle Shoals Project : Ford and Edison for one of the clearest understandings of the dynamics of debt-based money coupled with compounding interest.The people, in their monetary economy, are paying interest on every dollar that was ever created to support the national ex...

December 2016

joebhedTom,Yes, you are right, and I think that Positive Money has consistentlypointed this out over the years, being confirmed by the Bank of England’s April 2014 report on the subject of money creation in modern monetary economies.I am also in the US. And in both cases / countries, a restoration of the...

December 2016
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